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TradeLane Scores 845K-SF Value-Add Chicago Industrial Portfolio
TradeLane Properties, a privately held industrial real estate investment company headquartered in Oak Brook, IL, closed on a 13-building light industrial portfolio in suburban Chicago. Deal terms were not disclosed. It’s the largest single acquisition within the TradeLane Properties U.S. Industrial Fund II, L.P., a value-add investment fund focused on key Central U.S. logistics markets.
The 845,200-square-foot package was 100% leased at closing with eighteen diverse customers. Tenant industries include food packaging, printing, third party logistics and e-commerce.
The transaction, with an average building size of 65,000 square feet and a weighted average remaining lease term of under four years, is consistent with TradeLane’s strategy of investing in select logistics markets with opportunity to add value through in-house capabilities, the company said.
CBRE National Partners, Greenberg Traurig LLP and Bryan Cave Leighton Paisner LLP assisted in the transaction.
- ◦Sale/Acquisition
